The Two Rebalancing Acts

2017-04-15T14:33:30-04:00October 6, 2010|

Achieving a “strong, balanced, and sustained world recovery”—to quote from the goal set in Pittsburgh by the G-20—was never going to be easy. It requires much more than just going back to business as usual. It requires two fundamental and complex economic rebalancing acts: internal and external rebalancing. These two rebalancing acts are taking place too slowly. As the latest World Economic Outlook reveals, the result is a recovery which is neither strong, nor balanced, and runs the risk of not being sustained.

Saving the Lost Generation

2017-04-15T14:33:55-04:00September 14, 2010|

Oslo was the scene this week of a remarkable event that brought together global leaders from government, business, trade unions, and academia to discuss what many of them said is the biggest issue facing the world today: the jobs crisis. In this blog, IMF Managing Director Dominique Strauss-Kahn reflects on unemployment today—the highest level in history—and, importantly, about what can be done to save the potentially "lost generation" of unemployed young people.

Turning up the Volume—Asia’s Voice and Leadership in Global Policymaking

2017-04-15T14:35:42-04:00July 11, 2010|

Asia’s voice is getting louder and the IMF—and, indeed, the world—is listening. Blogging from the IMF and government of Korea-sponsored “Asia 21” conference in Daejeon, Korea, IMF Deputy Managing Director Naoyuki Shinohara reflects on the rise of Asia’s voice and leadership in global economic policymaking. The caliber of conference participants and the quality of dialogue speak volumes about the range and depth of expertise and experience in the region. The world needs Asian leadership, not only to sustain global growth, but also to develop policy mechanisms to contend with tomorrow’s economic challenges.

Looking Beyond the Crisis

2017-04-15T14:53:58-04:00August 27, 2009|

By John Lipsky in Jackson Hole

In my first two Jackson Hole blogs, I addressed some of the key challenges to restoring growth. Yet whatever shape the recovery takes once the Great Recession ends, several significant long-term problems will have to be faced if a solid expansion is to be sustained.

In particular, the principal sources of growth in many economies will shift, structural hurdles to growth will have to be overcome, the legacy of anti-crisis fiscal policies will have to be dealt with, and the governance of global economic policy will have to adjust to new […]

High-Stakes Choices In Next Stage of Crisis

2017-04-15T14:55:16-04:00August 5, 2009|

By Caroline Atkinson

After averting a second Great Depression, what should policy makers do to foster recovery?

Economic policymakers are rarely popular. Central bank governors are notorious for removing the punch bowl at the party. Ministers of finance are traditionally the ones who say no to their colleagues’ pet spending projects.

In the upside-down world of recent months, finance ministers and central bank governors around the world seemed to have switched sides.  They became cheerleaders for expansionary policies. The IMF has argued strongly for this, as long as countries had room to take on more debt. Despite some hiccups, […]

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